Edo Grants N1.8bn Loan to SME Operators

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  • Edo Grants N1.8bn Loan to SME Operators

Edo State Government said it had granted a total of N1.8bn to operators of Small and Medium-sized Enterprises in the state.

A statement by the Chief Press Secretary of the state government, Mr. John Mayaki, said over 12,000 entrepreneurs had benefitted from the scheme tagged, “Micro Small and Medium Enterprises Development Fund,” in partnership with the Central Bank of Nigeria.

The statement added that the aim of the initiative was to create new opportunities in agricultural value chain, manufacturing, cottage industry, trade and general commerce.

One of the beneficiaries of the scheme, Hajia Ikerodah, said through the N2m loan that she was granted, she started a poultry business which had enabled her to employ five persons.

She said, “I am a single mother and I can now sponsor my kids through school with less stress. I started my poultry business investing the N2m I was given and the proceeds from my birds and eggs sales have enabled me to rent a place for a private clinic for my birds.

“I have a five-member staff and a plot of land to expand my poultry production. I am expecting 500 more birds; I thank the state government for coming to my rescue and for enabling me to support others.”

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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